Europe: Payments without Borders

The use of big data creates tremendous business opportunities that benefit data providers (payment card issuers, acquirers and merchants) and end users alike. In this context, card-linked offers seem very promising, as people are now willing to try out new types of digital services, as shown by the recent advent of such initiatives in Europe. However, even though they interact with technology more than ever before, people are also more worried about their personal data. Actually, seven Europeans out of ten are concerned about how companies might use the information that they disclose, and 54% of people are also particularly wary about the use of their payment card data (ed: Flash Eurobarometer 359: Attitudes on Data Protection and Electronic Identity in the European Union - June 2011). Indeed, handling personal data remains a sensitive task because of regulatory, image and security issues. Regulations also change quickly in this domain, and keeping up with them is not easy. A data provider’s image can be hurt if the regulatory declaration and public announcement concerning data use are not carried out perfectly, or if private data are leaked because of security breaches.

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